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CHC Announces Expected Closing Date for Acquisition by First Reserve

12th September 2008 - 00:00 GMT | by The Shephard News Team


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CHC Helicopter Corporation today announced that it expects the acquisition of CHC by 6922767 Canada Inc., an affiliate of a fund managed by First Reserve Corporation, to close on September 16, 2008. The parties have acknowledged that all conditions to close for the transaction (other than those that can only be satisfied at the time of closing) have now been satisfied.

On closing, CHC will accept for payment and pay for all of its 7 3/8% senior subordinated notes due 2014 validly tendered pursuant to its cash tender offer for all such outstanding notes.

As a result of the expected closing, CHC does not intend to file its financial statements and accompanying management's discussion and analysis for the three month period ended July 31, 2008 with securities regulatory authorities otherwise due on September 15, 2008.

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